owners of the Surfside Beach Resort.

However general manager and former owner William Griffith and his employees are expected to remain in their posts.

Nam International, owners of the Surfside Beach Resort, bought out the shares of the previous owners on Friday.

A spokesman said: "Owners of the two properties, Sharad Tak and Naval Mehra, both of Washington DC, have expressed delight in acquiring ownership in another Bermuda property and expressed great optimism in the future of the Harmony Club.

"Both gentlemen have had an extensive association with Bermuda dating back 20 years.

"There are plans to do a significant upgrade of the property in the very near future. Harmony Club will continue with its popular all-inclusive concept.

"William Griffith has also expressed delight in the changes and said that the added synergy and economies of scale that will now be created between the sister properties will prove to be a tremendous benefit in the marketability of both of them.'' Other former owners of the Harmony Club included former Speaker of the House of Assembly Ernest DeCouto.